Tag: KBE

Bulls Need to Clear S&P’s 2760 quickly or Market Will Fall Under its Own Weight

we wouldn’t look too much into last week’s trading action because it keeps the S&P within its short-term oversold consolidation phase. Momentum has weakened as S&P moved up to test resistance near the 2750-2765 zone. The longer the index stays below that level, the more vulnerable it is to lower prices. With that said, the bulls need to clear 2760 quickly or market will works off oversold conditions and fall under its own weight

S&P Could Continue to Drift Sideways

while market could continue to drift sideways as global trade concerns continue negatively affect trading sentiment, the fact that the S&P pulled back to level that had been successful in repelling price action in the past increased the probability for a short-term bounce. 2900 is the line in the sand. A close above it is required before there is any real prospect of a change in the medium-term upward pressure

S&P Constrained by Short-term Sideways Trend

trading behavior in the S&P remains constrained by a short-term sideways pattern and shown little evidence of a sustainable change in trend. 2900 is the line in the sand. A failure to hold above that level would trigger a new sell signal and an unwelcome pickup in downside volatility

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